There is currently a mismatch of name for the column in the Markers panel that lists what was typed for a particular marker.
You can see it right now in the documentation page for Timeline Markers:
In the panel it’s called “Marker”:
But in the hamburger menu it’s called “Text”:
I think calling that column “Marker” is redundant.
This is a fair comment. We never really finalized the name for this property. Some options include:
Maybe there are other ideas, too.
“Name” seams like the best choice to me.
It is the name of the marker, maybe it should be the first column seams to me that the name off the marker is more impotent than the color.
I prefer Text
I can see that as a programmer, but when I say it loud it sounds strange
“The second column contains the text of the marker”
I think Text is more suitable.
This is exactly my thinking too. 
I had suggested “Name” before in the 21.10 beta thread because it made sense. I then realized it didn’t need any label for the Marker Edit menu and skipping out on one for that menu would be better also because the space to type could be made longer.
With the columns in the Markers panel, I go back to thinking “Name” fits best because just as you laid out, saying it out loud fits.
That’s the color of the marker.
That’s the start of the marker.
That’s the end of the marker.
That’s the duration of the marker.
That’s the text of the marker? Sounds a little awkward.
That’s the name of the marker. Sounds natural.
Also, when you think about exporting ranges and chapters, text sounds out of place.
What sounds more natural?
That’s the text of the range.
or
That’s the name of the range.
And
That’s the text of the chapter.
or
That’s the name of the chapter.
+1
OK, I can go with “Name” too. You are correct that “text” is a programmer perspective because there is only one text field associated with the item, and it is arbitrary whether it is a name or represents the body or other.
This is changed to “Name” for the 22.01 release.